facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Multifamily

/

Sale

/

904 Bedford Avenue, Bedford...

Updated Dec 21, 2023

Bilt advertisement
Joel Braver Acquires Multifamily Property In Bedford-Stuyvesant For $23.37M
SOLDMultiFamily

Joel Braver Acquires Multifamily Property In Bedford-Stuyvesant For $23.37M

904 Bedford Avenue, Bedford-Stuyvesant, Brooklyn, NY, USA

$23,370,000

$599/SF

Building Size

39,000 SF

Asset Type

MultiFamily

Closing

Jun 13, 2021

About this deal

AI

Three multifamily properties located at 904 Bedford Avenue, 902 Bedford Avenue, and 908 Bedford Avenue in Bedford-Stuyvesant, Brooklyn have recently been sold in a transaction that closed on June 14, 2021. The buyer, Joel Braver, acquired the properties from seller Richard A Kaplin for a total price of $23,370,000.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $23,370,000
  • Address: 904 Bedford Avenue, 902 Bedford Avenue & 908 Bedford Avenue, Bedford-Stuyvesant, Brooklyn
  • Market: Bedford-Stuyvesant, Brooklyn
  • Zoning: R7A

The three properties have a combined building square footage (BSF) of 24,000, resulting in a price per BSF of $973. The total lot size is 4,000 square feet, and the sale price per square foot (PPSF) is calculated to be $599 based on the total square footage (SF) of 39,000.

The previous sale of these properties took place on September 11, 2014, with a sale price of $28,600,000. On June 12, 2015, permits for alteration type 2 were issued for the properties.

It is important to note that the properties have a floor area ratio (FAR) of 6.50 and fall under tax class 2.

By acquiring these three multifamily properties in Bedford-Stuyvesant, Joel Braver has made a significant investment in the Brooklyn real estate market. The transaction demonstrates a strong interest in the area and highlights the demand for multifamily assets in this neighborhood.

Players

Joel Braver

Buyer

$148M

vol

4 deals

Buyer

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Deal FAQ

About $599 per square foot on a published $23.4M for 39,000 square feet (2021).

Visit Joel Braver to view all their deals.

Browse New York multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.68%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets